GBP/AUD: sell target - 2.0200
By: Dmitriy Chernovolov
- GBP/AUD falling inside impulse waves 3 and (C)
- Next sell target - 2.0200
GBP/AUD has been falling in the last few trading sessions inside the 3rd minor impulse wave 3 – which started earlier this month – when the pair reversed down from the resistance area lying between the resistance level 2.1000, upper daily Bollinger Band, 38.2% Fibonacci correction of the previous downward impulse from last August and the upper resistance trendline of the daily down channel from last year.
GBP/AUD is likely to fall further in the active impulse waves 3 and (C) (which belong to the primary ABC correction ② from last August) toward the next sell target at the support level 2.0200 (low of the previous impulse 1).